Under Armour CEO Kevin Plank admitted Thursday that sales for Stephen Curry's current signature basketball shoe were disappointing.
"Our success in basketball hasn't been without its learning," Plank said on the company's earnings call, in which Under Armour reported its first-ever quarterly loss as a public company. "As we launched the Curry 3 late last year, our expectations continued to run high. And while the Three played very well on court for Stephen Curry and our athletes, a sluggish signature market and a warm consumer reception led to softer than expected results.
"This has created an inventory imbalance that we are working through.